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SYT iQ: performance of the used sailing yacht market

Market
Written by
Ralph Dazert

According to our market intelligence system SuperYacht Times iQ, there are 799 operating sailing yachts over 30 metres in the world today. These yachts have a total length of 31,262 metres, an average length of 39.1 metres and an average volume of 206 gross tonnes (GT). In the past 10 years, 215 sailing superyachts were completed.Seahawk yacht sailingPhoto: BurgessUsed Market

Of the 799 30-metre plus sailing yachts in operation, there are currently 179 yachts for sale on the market, which is 22.4% of the sailing yacht fleet in operation. Compared to the motor yacht fleet average of 23.4% this is slightly lower. The total combined length of the sailing yachts for sale is 6,976 metres, with an average length of 39.0 metres and an average volume of 182GT.

The average price of a yacht on the used sailing yacht market right now is €6.1 million. When looking at the price per GT, we can see an average price of €34,000 per GT. Looking just at the yachts that have been built since 2010, which is a total of 54 yachts, they have an average price of €43,000 per GT.Ribelle yacht at the 2019 Loro Piana Superyacht Regatta Day 2Photo: Charl van Rooy / SuperYacht TimesOn average, the 179 used sailing yachts for sale have been on the market for 889 days. On average, these yachts are 22 years old. The youngest used sailing yachts for sale are the 55-metre Meira and the 35.1-metre Odin, both from 2018, while the oldest is the 55-metre Shenendoah from 1902.

New yachts coming on the market by year

In the last two years, between 10 and 37 used sailing superyachts came on the market per quarter. The first quarter of 2017 and the first quarter of 2018 saw the highest number of used sailing yachts come onto the market.

Used sailing yachts new to market graphPhoto: SuperYacht Times / SuperYacht TimesThe most recent used sailing yacht to be listed is 33.9-metre Blue Toowhich came on the market as a yacht for sale in May 2019.Mariette of 1915 yacht at the 2019 Loro Piana Superyacht Regatta Day 1Photo: Charl van Rooy / SuperYacht Times

Yachts sold 

In the past two years, a total of 77 used sailing yachts were sold, with 30 yachts sold during 2017, 38 during 2018, and another nine in the first quarter of 2019.

Used sailing yacht sales graphPhoto: SuperYacht Times / SuperYacht TimesIf we look at the used sailing superyachts sold in the last two years, we can see that they were on the market for an average of 859 days. For the total used superyacht fleet sold in the last two years, this average stood at 654 days.

The 77 used sailing yachts sold in the last two years represented a total value of €490 million in terms of final asking prices. Their average last asking price was €7.5 million per yacht or €37,440 per GT. The largest used sailing yacht sold in this time period was the 70-metre Sybaris (now Badis I), which was also the highest valued used sailing yacht to be sold, with a final asking price of €88,000,000. Sybaris sailingThe nine used sailing yachts sold in the first quarter of 2019 had an average final asking price of €9.0 million versus €6.8 million for the seven used sailing yachts sold in the first quarter of 2018. The average final asking price per GT for the used sailing yachts which were sold in the first quarter of 2019 was €34,820 versus €28,620 for the first quarter of 2018.

Note that comparing sailing yacht sales by the price per GT is always a bit tricky as even two sailing yachts of the same length and year of build can be very different in terms of design, specification and hull shape.

2019 Loro Piana Superyacht Regatta Day 2Photo: Charl van Rooy / SuperYacht TimesMariette of 1915 yacht at the 2019 Loro Piana Superyacht Regatta Day 2Photo: Charl van Rooy / SuperYacht TimesThe used sailing yacht market appears to be showing signs of improvement, with sales up by eight yachts in 2018 compared to 2017 and the number of yachts new to the market going down by 21 units year-on-year during 2018. This tightening of supply has led to a gradual increase in the average asking price of used sailing yachts. 

In the first quarter of 2017, the average used sailing superyacht had an asking price of €1.5 million, whereas by the end of the first quarter of 2019, this number had risen to €9.0 million. While the average asking price had been slowly going up throughout 2017 and 2018, the last quarter of 2018 and the first quarter of 2019 saw spikes due to the sales of a few very large sailing yachts.Atlantic sailing in the Mediterranean Photo: Benoit DonneTop 5 Used Sailing Yachts for Sale

The five largest used sailing yachts for sale right now are:

Atlantic - 69.2m - 268GT - 2010 - Price on application

Lamima - 65.2m - 491GT - 2014 - $14,000,000 ($29k per GT)

Athos - 62m - 348GT - 2007 - €35,000,000 (€100k per GT)

Seahawk - 60m - 491GT - 2013 - €32,000,000 (€65k per GT)

Perseus 3 - 60m - 491GT - 2015 - €32,500,000 (€66k per GT)Ribelle yacht at the 2019 Loro Piana Superyacht Regatta Day 2Photo: Charl van Rooy / SuperYacht Times

SuperYacht Times iQ is the SuperYacht Times live market intelligence system. Our subscribers have live access to all this data and intelligence, as well as more in-depth insights. If you are interested in a demonstration, please contact us.

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